Keep it Simple Stupid (KISS) Method | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Keep It Simple Stupid 7 replies

Absolute Simplest KISS Method. Also, how do we measure risk reward? 68 replies

Hippiedog's Keep it Stupid Simple 167 replies

KISS method, why the hard way? 38 replies

Keep It Simple Stupid (KISS) - The next Generation!! 7 replies

Attachments: Keep it Simple Stupid (KISS) Method
Exit Attachments

Keep it Simple Stupid (KISS) Method

  • #281
  • May 12, 2009 5:31am May 12, 2009 5:31am
The new setup with the 40 seems to be working very well indeed. In fact, its good from frankfurt session.

Regards

Pardy
  • #282
  • May 12, 2009 5:33am May 12, 2009 5:33am
Shame they dropped the chat rooms from the yahoo clubs.

As I plan to longer term, trade EJ, EU and GU possibly all the same time, it's going to be alot of trades and require some nifty mouse clicking skills


Thinking, make 300-400 pips per day
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #283
  • May 12, 2009 5:41am May 12, 2009 5:41am
Quoting Pardy
The new setup with the 40 seems to be working very well indeed. In fact, its good from frankfurt session.

Regards

Pardy

Cool, not seeing any room for improvement here to be honest, have you moved to the 15sma rather than 20/22 yet ??? I'm prefering that too ( both on my charts to compare live )

EJ's about to signal a exit for +35
15 on eu and gu, gu's trying to signal long soon maybe.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #284
  • May 12, 2009 5:55am May 12, 2009 5:55am
Quoting Turveyd
Cool, not seeing any room for improvement here to be honest, have you moved to the 15sma rather than 20/22 yet ??? I'm prefering that too ( both on my charts to compare live )

EJ's about to signal a exit for +35
15 on eu and gu, gu's trying to signal long soon maybe.
Yes, moved to 15, like it better.
  • #285
  • May 12, 2009 6:08am May 12, 2009 6:08am
Quoting Pardy
Yes, moved to 15, like it better.
Cool

Notice the 40sma stopped a long being called against the trend just on the EJ Perfectly, which then signalled a down move on the break back below the 15sma, which likely just got 15pips.

Likewise on EU.

The chop / anti trend filter is working well at this setting

Role on live tommorow ( expect this to fail miserably tomorrow people LOL )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #286
  • May 12, 2009 7:13am May 12, 2009 7:13am
hello turveyd,

look at that screen attached,just happend in GU. how do u detect that sort of chop zone ? i got in twice and got stopped out -15p.i entered every time the 3sma broke 15/40. when the PA finally started rising, i wasnt in because i didnt know how long the chop zone lasts ... how do u trade that?
Attached Image (click to enlarge)
Click to Enlarge Name: chop.jpg Size: 198 KB
  • #287
  • May 12, 2009 7:17am May 12, 2009 7:17am
Guys the best way to have a live room for discussing your method further and to let each other know of potential trades forming with chat kept to a minimal seems like a good idea...Best place is to do this on Skype....

Skype chat rooms are easy, nice simple user interface, friendly to use. The best free way to go for sure, beats msn and yahoo.

For those of you who dont have Skype installed the latest version of skype doesn't support the chat rooms anymore, you need Skype v3.8.0.188 which you can google and download either from filehippo or oldapps website.

If you need any help, just let me know. Wish you all the best with getting your KISS method to work properly.
  • #288
  • May 12, 2009 7:27am May 12, 2009 7:27am
Quoting tex
hello turveyd,

look at that screen attached,just happend in GU. how do u detect that sort of chop zone ? i got in twice and got stopped out -15p.i entered every time the 3sma broke 15/40. when the PA finally started rising, i wasnt in because i didnt know how long the chop zone lasts ... how do u trade that?

sadly you've kinda got to take the trades, cause you don't know which 1 is suddenly going to make you 40pips, BUT..............

IF it looks weak BAIL to be sure, if it looks weak bail on the 3/8 failing don't let it get as far as your SL, you'd of likely 1/2'd your loss doing so ??

20pips saved, all helps.

I'd be trying to call chop and this is the CHOP time zone so after the first chop give abit more patience on the others maybe.

Chop is always the enemy sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #289
  • May 12, 2009 7:28am May 12, 2009 7:28am
Quoting WilteredFire
Guys the best way to have a live room for discussing your method further and to let each other know of potential trades forming with chat kept to a minimal seems like a good idea...Best place is to do this on Skype....

Skype chat rooms are easy, nice simple user interface, friendly to use. The best free way to go for sure, beats msn and yahoo.

For those of you who dont have Skype installed the latest version of skype doesn't support the chat rooms anymore, you need Skype v3.8.0.188 which you can google and download either from filehippo or oldapps...
Thanks, certainly a option, consider this delegated for the time being ??

Go on lads, sort it out !!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #290
  • May 12, 2009 7:33am May 12, 2009 7:33am
thanks turveyd,

will try to get out sooner in future trades.

perhaps theres a good (time based?) chop-zone-detect-indicator out there, that will help improving your system.

do you plan to program an EA for your system ?
  • #291
  • May 12, 2009 7:36am May 12, 2009 7:36am
Quoting tex
thanks turveyd,

will try to get out sooner in future trades.

perhaps theres a good (time based?) chop-zone-detect-indicator out there, that will help improving your system.

do you plan to program an EA for your system ?

I'm only planning to trade something like, GMT / BST 09:30 - 11:30 , 14:30 - 15:30 , 00:30 - 02:00 as they suffer less from chop.

EA maybe, there is abit of discression on which trades to take and definately on the exits which is hard to teach a EA.

I plan to make a alert system soon though, for moves either side outta the no trade zone to give us a wake up call.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #292
  • May 12, 2009 7:40am May 12, 2009 7:40am
Quoting tex
hello turveyd,

look at that screen attached,just happend in GU. how do u detect that sort of chop zone ? i got in twice and got stopped out -15p.i entered every time the 3sma broke 15/40. when the PA finally started rising, i wasnt in because i didnt know how long the chop zone lasts ... how do u trade that?

hi tex,

the higher period MAs sometimes tell u to stay out. when u c them r in a flat or horizontal manner. or sticks together with other lines then maybe it's best 2 stay out. the market is clueless at this moment.

1m traders like us has 2 b very selective about trades. can't take all of them. best 2 sit back n observe the market. can't be greedy also. u gotta judge when u will let your position run a bit n sometimes get out. even if only 4 a few pips. sometimes when i'm confident about my entry n prices go against me. then i'll average 1 or 2 positions but if prices r not coming back. then l'll run.
  • #293
  • May 12, 2009 7:57am May 12, 2009 7:57am
This is not totally mechanical, although it looks like it will make a profit it's better to be selective.

the 50 and 00 sweetspots are key aswell, there working well, GU bounced off the 1.5350 and back to 1.5300 for instance just.

Not suggesting any other lines though, these work as there so popular.

EJ hit 133.00 aswell and reversed so exit near and hold off going long to near.

Thats why a chat room with us all on EXACTLY the same system would be ideal, we can point out things to consider that others might of missed.

Keep it :-


EJ Res 1.3300
News Moderate 10mins
EJ broke down
EJ Short
EJ weak
EJ TP


Quick and unobtrusive, then outta trade times, chat and chill out and stuff. Then TRADE and all back to topic.
Attached File(s)
File Type: mq4 SDX-SweetSpots.mq4   4 KB | 311 downloads
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #294
  • May 12, 2009 8:33am May 12, 2009 8:33am
Made a quick chatroom on Skype, read my post on this page if you dont have the right Skype version to join the chat...

This is the room link to connect up:
http://www.skype.com/go/joinpublicch...N35xbugSsF_mho

Sorted?
  • #295
  • May 12, 2009 8:34am May 12, 2009 8:34am
I agree the sweetspots are excellent S&R areas.

Also, the Daily Open Price (set from midnight UK time) and Yesterdays High and Low. All of them show price bouncing off them or moving through them strongly.

As for the rest of the fib levels and pivots, I just think they get in the way. Ive seen prices bounce off of S1 and R2 etc, but they don't nearly have the same effect as the ones above.

Someone on here said they're as good as randomly generated numbers. Im inclined to agree.

Just my opinion.
Matt
  • #296
  • May 12, 2009 9:18am May 12, 2009 9:18am
psgm

Does your proposed system, the last one, work in all timeframes?
  • #297
  • May 12, 2009 10:01am May 12, 2009 10:01am
Quoting Turveyd
This is not totally mechanical, although it looks like it will make a profit it's better to be selective.

the 50 and 00 sweetspots are key as well, there working well, GU bounced off the 1.5350 and back to 1.5300 for instance just.
Yes, it can never be fully mechanical, and any chop zone detection indicator thingy can only tell you what has already happened, not what will happen next. On the GU chart that Tex posted, with hindsight the best scalping method is possibly to see if the price will turn up or down roughly where it did before, and make an entry there with a tight stop, being prepared to get out quick.

If you don't trade the chop zone, then you are looking for a breakout to end it - these can be fake of course! Having some other charts open is useful, which is why I use a demo version of Metatrader - you can see if there is a breakout of GBP against other currencies too, or if everything is zooming up against the USD.

Re 50 or 00 sweetspots, I have got slaughtered at these spots many times trying to scalp! GBP/USD for example was hovering around 1.5300 for what seemed like ages this lunchtime and early afternoon. Some small moves, some very wild ones. Theycan be good, but not always!
  • #298
  • May 12, 2009 11:45am May 12, 2009 11:45am
Quoting paulb

If you don't trade the chop zone, then you are looking for a breakout to end it - these can be fake of course! Having some other charts open is useful, which is why I use a demo version of Metatrader - you can see if there is a breakout of GBP against other currencies too, or if everything is zooming up against the USD.
Paulb - I think this is an extremely important and imo - crucial for success. That is to have a clean(or fairly clean) candlestick chart next to this template chart with t/l's; s/r's; fibs; 'sweetspots'; candlestick patterns; maybe your favorite indicator or 2 to be able to 'see' the PA on a bigger picture.

It was suggested for me to do that so as to learn a scalping 'method' but also to understand PA in general, so as to become an 'intuitive' trader when scalping. Just staring at a 1 minute chart 'waiting for the set-up' without looking at what else is going on - will tend to have traders (like me at one time) to trade chop and get my account creamed.

someone above asked how to stay out of chop - well that is one way - have another chart open on a different t/f - to see the bigger picture. It just takes practice, practice, practice.

Happy trading all -
Pip what you see; See what you pip!
  • #299
  • May 12, 2009 12:31pm May 12, 2009 12:31pm
SeerEye

What should I see in a higher chart that would indicate there is chop going on in lower?
  • #300
  • May 12, 2009 1:03pm May 12, 2009 1:03pm
I agree with SeerEye: to avoid getting eaten by chop with this method I have been looking at the 5 to 15 min time frames to assess good set-ups and fine-tuning entry/exit with the M1.

Works more better.
"If The Fool persists in his Folly he will become wise." - William Blake
0 traders viewing now